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Debt Management Plan - Abbey Solicitors
Wingco44
Posts: 14 Forumite
I have a DMP and have been approached by Abbey Solicitors who will take over the plan for the same monthly payment with a view to gaining write offs for mis-sold loans/credit cards or where the debt has been passed to debt collection agencies:
1. Has anyone had any experience of solicitors gaining write offs of mis-sold debts or debt collection agencies (DCA) lack of entitlement to the the debt?
2. I understand a DCA pays less than 10p in the pound for debts and therefore are likely to accept greatly reduced 'full and final' payment offers. Anyone tried this successfully?
1. Has anyone had any experience of solicitors gaining write offs of mis-sold debts or debt collection agencies (DCA) lack of entitlement to the the debt?
2. I understand a DCA pays less than 10p in the pound for debts and therefore are likely to accept greatly reduced 'full and final' payment offers. Anyone tried this successfully?
0
Comments
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Ah, so you are paying a debt management company for your DMP !!
You are been fleeced, first by the company your paying, now these chancers are trying it on with you.
There's nothing these magical solicitors can do for you, there are no get out of debt quick schemes, ignore them completely, and also ditch the fee paying company your paying for your DMP.
These companies go bust regularly, and they take all your money with them, go to stepchange and get a free DMP, or better still, do it your self.
Can you write a letter ? Good, you can self manage a DMP then !!!
Please don't be taken in by these fly by night companies that promise miricles, all they want is your money !!I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Hi Sourcrates
Many thanks for your candid opinion. I'm sure you are right and I have already contacted Stepchange.
I'll post my experience but as you say, I'm being fleeced.0 -
sourcrates wrote: »These companies go bust regularly, and they take all your money with them
Indeed they do:
Notorious example:
http://news.bbc.co.uk/1/hi/business/8574956.stm
http://legalbeagles.info/%EF%BB%BFcarl-wright-cartel-client-review/Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0
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